"We are Confident in the Resilience of China's Economy"

In her social media posting on 3 February, International Monetary Fund (IMF) Managing Director Kristalina Georgieva conveyed the IMF's deep sympathies to all those affected by the novel coronavirus outbreak and expressed its support for China's efforts to respond, including recent fiscal, monetary and financial actions. At a recent roundtable news conference at the IMF headquarters in Washington, D.C., Georgieva stressed that the IMF is closely monitoring the situation and will assess its economic impact in a few weeks.While the outbreak may have an impact on China's economy in the short term, she believes the government has ample policy space to stabilize growth.

In a social media posting on 3 February, the World Bankexpressed sympathies to all affected by the serious situation related to the coronavirus and noted thatthe Chinese government has the policy space to respond and has announced a sizeable injection of liquidity, which should help mitigate the costs to economic growth.The World Bank Group is reviewing financial and technical resources that can be mobilized quickly to support affected countries so as to stop the transmission and mitigate the impact of this virus.

World Bank President David Malpass issued a statement expressing support for China's response to the outbreak. He pointed out that this is a severe public health challenge for China and the rest of the world, and it calls for ongoing coordinated action and continued transparency. The World Bank Group stands ready to support the government's efforts in containing the spread of the virus and it "stands together with the people of China at this challenging time".